As a member of the Society of Will Writers, WAP UK guarantees the advice and Wills that we produce, comply with the law and will represent your wishes in the way you intended.
Thursday, 28 October 2010
Wednesday, 27 October 2010
Making a Will is the only way to ensure that your wishes are carried out after your death. If you do not make a valid Will, your property will pass according to the Law of Intestacy. This may not happen the way you would have wanted and also takes much longer than if you have had a will. During this time your beneficiaries may not be able to draw money from your estate.
You will want your estate divided amongst friends, relatives and charities of your choosing and in the proportions you want.
Don't assume "my other half will get everything". Brothers and sisters or parents may have a claim. Often you children have a right to part of your estate. If you are living as a couple but not officially married, you may be treated as a single person and a surviving partner may get nothing at all.
You should consider who would look after your children in the event of your death. This is particularly important in the case of one parent families or unmarried parents living together. A valid Will nominating guardians is invaluable in such cases. If no one knows what you would have wanted, the Court will decide on the future of your children.
Maybe you made a Will a long time ago. It probably needs updating to include additional grandchildren or deletion of persons you no longer feel you wish to leave anything to.
For more information, or to speak to one of our team, visit wapuk.co.uk
Monday, 25 October 2010
Many inheritances are ‘lost’ due to lack of planning by those leaving them.
Leaving an inheritance directly to a child may not always be the best solution, with increasing divorce rates there is always a possibility that money will be lost to your departing spouse.
Secondly there may be a threat of legal action against the recipient of the inheritance, as in todays society the chance of being sued has greatly increased.
Similarly the chance of the recipient having financial difficulty may be higher and creditors may claim against inheritance to recover money.
The final lost could be more indirect, if a recipient is in receipt of means tested benefits these may be lost if an inheritance is received.
£6000 will affect any benefits and an inheritance of over £16000 will mean no benefits can be claimed.
For more information please ring us on 0800 043 2811